Co-op America Quarterly wrote an article about 21 things you may not know you can actually recycle. Take, for example, foam peanuts:
Your local pack-and-ship store will likely accept foam peanuts for reuse. Or, call the Plastic Loose Fill Producers Council to find a drop-off site: 800/828-2214. For places to drop off foam blocks for recycling, contact the Alliance of Foam Packaging Recyclers, 410/451-8340, www.epspackaging.org/info.html
Here is the complete list: Link - Thanks Dave!